Friday, 20 July 2018
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--

Gold Is Escaping The 'December Curse' But Silver Isn't - Analyst
Tuesday, 5 December 2017 19:58 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold is unlikely to end the year at yearly lows, but it won't be able to escape the December curse entirely, according to one commodity analyst.

Since 2013, gold has carved out a fairly familiar year-end pattern with prices falling to or near yearly lows in December. And during the last month of 2015, gold hit multi-year lows, which has now become the floor in a new bull market for many analyst.

Andrew Hecht, creator of the Hecht Commodity Report, said that negative sentiment is growing in the gold market as prices hover near the bottom end of a narrow range. However, he added that the market is in a very different shape than it was during the past two years.

œIt is possible that as the dollar is a lot closer to the lows than the highs this year, precious metals will not repeat their price action of the previous two years, he said in a recent commentary. œGold is going into the final month of 2017 with a strong and bullish tone compared to the price action at the end of 2015 and 2016. Higher rates are likely weighing on the yellow metal while the price action in the dollar and geopolitical landscape combine to provide support for the price of the precious metal that thrives during times of fear and uncertainty.

Despite struggling in its narrowest trading range in more than a decade, gold has shown some resilience, as prices remain up 10% since the start of the year. February gold futures last traded at $1,248.30 an ounce, down 0.31% on the day.

While gold is ending the year with bullish potential, Hecht also warned that it does face headwinds like a weaker silver market.

In 2017, silver has struggled and is currently flat on the year. March silver futures last traded at $16.37 an ounce, down 0.14% on the day.

œMany market participants have thrown in the towel in silver and the metal is not attracting speculative demand in the current environment. The weakness in silver could continue to weigh on the price of gold, he said.

Source: Kitco News

RELATED NEWS
Wall. St. Sees More Weakness In Gold Price; Main St. Leans Bullish...
Monday, 16 July 2018 11:34 WIB

Wall Street melihat penurunan harga emas baru-baru ini akan berlanjut, sementara blok terbesar pemilih Main Street cenderung melihat pergerakan bullish, menurut survei mingguan Kitco News. Sembilan b...

INTL FCStone Sees Gold Prices Faring Better In July...
Tuesday, 10 July 2018 05:11 WIB

INTL FCStone melihat harga emas untuk berkinerja lebih baik di bulan Juli daripada yang mereka lakukan selama bulan "sengsara" untuk logam pada bulan Juni. Analis menyatakan keterkejutannya menyusul a...

BAML Continues To See $1,400 Gold By Year End Despite A Stronger U.S. Dollar...
Tuesday, 3 July 2018 04:10 WIB

Bank terbesar kedua di Amerika melihat potensi kenaikan lebih lanjut dalam dolar AS, tetapi juga tidak mengubah perkiraan untuk emas atau perak. Dalam laporannya hari Senin, analis Bank of America Me...

Wall St. Bullish, Main St. Mixed On Gold Prices...
Monday, 25 June 2018 18:47 WIB

Wall Street tetap bullish sedangkan Main Street bervariasi pada arah harga emas minggu ini, berdasarkan survei mingguan Kitco News. Emas jatuh ke level terendah dalam enam bulan pekan lalu sebagian b...

Wall. St., Main St. See Higher Gold Prices...
Monday, 18 June 2018 17:03 WIB

Wall Street dan Main Street keduanya melihat harga emas untuk naik minggu ini, berdasarkan survei mingguan Kitco News. Logam ini berada dalam rentang perdagangan terbatas untuk sebagian besar pekan l...

POPULAR NEWS
Gold books back-to-back loss to finish around 2018's lows

Gold prices on Monday fell for a second straight...

Gold aims to snap 2-session skid as dollar gauge sees muted action

Gold prices on Tuesday edged higher, attempting...

Gold prices down a third straight session to lowest finish in a year

Gold futures fell a third session in a row on...

LATEST NEWS
Dollar index turns negative after Trump say's he's not 'thrilled' with Feds' rate hikes

The U.S. dollar turned negative versus its main rivals on Thursday after President Donald Trump said he disagreed with the Federal Reserve's strategy to gradually hike interest rates. Trump told CNBC during an interview on Thursday that he isn't...

Gold Prices Pare Losses, But Still End at a 1-Year Low

Gold futures gave up much of their declines Thursday, but still finished at their lowest in about a year. President Donald Trump voiced his disagreement with the Federal Reserve's plan for gradual increases in interest rates, prompting a decline...

Dow Threatens to Snap 5-Day Win Streak

U.S. stocks fell in midday trading on Thursday, as major indexes consolidated their gains after a five-day rally that was driven largely by optimism over the strength of corporate earnings. The Dow Jones Industrial Average was down 0.2%, or 61...